City of Novi StaffReport Consideration of the City’s 2026-2027 property and liability insurance coverage 2026-06-22
City Reviews Transition From Travelers Insurance Coverage
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Description
Novi currently maintains its property and liability insurance program with Travelers Insurance under a placement arranged by Kapnick Insurance Group since 2024. Staff now proposes transitioning this ongoing coverage to the Michigan Municipal League Liability and Property Pool for the 2026-27 policy year.
Contract Details
Vendor
TRAVELERS INSURANCE
Agency
City of Novi, MI
Contract Type
INSURANCE
Document Date
June 22, 2026
Contract Term
Since 2024 through FY 2025-26 (exact end date not stated, implied 6/30/2026)
Renewal Date
2026-06-30
Renewal Info
Existing multi-year relationship for property and liability coverage beginning in 2024; most recent renewal pricing comparison for FY 2026-27 shows Travelers as competitively priced but not recommended for renewal due to service and expertise concerns.
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